Translation: Original published in Finnish on 6/24/2026 at 9:30 am EEST.

Enersense announced this morning that it has signed an agreement with Aquatech for a water treatment plant at the green steel plant to be built in Boden, Northern Sweden. Under the agreement, Enersense is responsible for the installation of the plant's equipment, steel structures, and piping. The newly signed contract is valued at around 30 MEUR and will be recorded in the Energy Transition business unit's Q2'26 order book.

Moderate deal size for Group, significant for Energy Transition

The contract is of a reasonable size when distributed annually at the Group level (core business revenue 2026e: 329 MEUR), and it represents approximately 7% of Enersense's order book at the end of the previous quarter (Q1'26: 413 MEUR). However, for Energy Transition, the agreement is significant (core business revenue 2026e: 73 MEUR) and, in our view, one of the business unit's largest recently announced orders, as well as an important reference within the framework of the current strategy.

The project is estimated to start in Q3’26 and be completed in Q1’27. The contract supports Energy Transition's order book and provides visibility for the coming quarters' revenue. However, the agreement has no immediate impact on our forecasts for Energy Transition or Enersense, as our current forecasts already include an assumption of new orders. Nevertheless, we consider the agreement important, as it is well aligned with the company's strategy and provides it with a significant workload for the coming years.